Plastic Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Plastic Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Plastic Furniture Market size is estimated at USD 15.22 billion in 2024, and is expected to reach USD 18.74 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).

With the onset of the pandemic, the booming sector of plastic furniture was heavily impacted due to the restriction and lockdown in the initial period. The manufacturing index also showed a drastically declined number for the month of March, April, and May of 2020. The furniture industry bounced back with the rise in work or study from furniture in the latter half of 2020. The pandemic also resulted in the need for privacy and personalized space within the house that was required for the work-from-home or study-from-home, which resulted in an increase in demand for WFH furniture.

Due to the increased demand for inexpensive, lightweight, and durable plastic furniture in a range of end-use industries, consumers are selecting plastic furniture over traditional, wooden, or metal furniture.

The study concludes that the development of the plastic furniture business will be greatly influenced by ongoing improvements in engineered plastics and an increasing focus on recyclable plastics. The industry gained momentum with the development of high-performance plastic polymers ideal for making durable plastic furniture. The makers of plastic furniture will keep producing new types of plastic and furniture designs to capitalize on possible sales prospects. Small businesses are entering the plastic furniture market with innovative designs of recycled plastic furniture to take advantage of the growing consumer demand for eco-friendly products.

Plastic Furniture Market Trends

Demand for Expensive, Fun, and Durable Plastic Furniture is Driving the Market

People all across the world favor plastic furniture because it is more opulent, durable, and affordable than furniture made of metal and wood. Wooden chairs are rather stiff and more prone to fracture and distortion, and consumers prefer plastic furniture to metal furniture.

On the other side, plastic furniture is more pressure-resistant because of greater flexibility. Furniture made of plastic is also less expensive than furniture made of metal and wood. Plastic furniture benefits from this on the global market. Plastic furniture is additionally adaptable and portable. Additionally, one of the main factors fueling industry expansion is increased plastic furniture's resistance to disintegration.

Asia-Pacific is Anticipated to Grow at the Highest Rate

Due to increased disposable incomes, rising public awareness of plastic furniture, and India and China's dominance in the region, Asia-Pacific is predicted to develop at a large rate in the global plastic furniture industry. The plastic furniture market in Africa is anticipated to expand at a healthy rate. The market in Middle-East and Africa is drawing investment from businesses looking for greater opportunities there, and it is anticipated that it will experience a robust increase over the next years.

Plastic Furniture Industry Overview

Included in the report are significant international businesses involved in the plastic furniture sector. In terms of market share, only a few of the top rivals currently dominate the market. Demand, however, is determined by consumer spending. Large enterprises compete by making massive purchases, providing a wide selection of goods, and utilizing clever marketing and merchandising techniques. Small enterprises target a specific market niche and compete with larger product portfolios and superior customer service. Companies including Keter Group, Ashley Furniture Industries, Inc., IKEA, Nilkamal Limited, and Berkshire Hathaway Inc., among others have been profiled in the report.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support